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mortdiggiddy

2X Bracket Order Short

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
mortdiggiddy Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Pivot Points
2
0
pivotpoints
1st Bracket is to get to break even. Second to CAM S4 and Weekly VWAP Band Support. $DXY $TLT $GLD
Comment:
The shorts are initiated on CAM R3, just below the weekly VWAP STDEV 1 band (further resistance). Both brackets use the same quantity of lots or micro lots.

Maximum Loss: Both Brackets are stopped out -38 pips
Break Even: Bracket 1 fills at yesterday's close, Bracket 2 is stopped out.
Maximum Gain: Both Brackets fill +77 pips

Depending on how quickly CAM R3, once bracket 1 limit is filled it is sometimes wise to move the second bracket stop loss to CAM R3 for that bracket to break even or better. That way you are guaranteed a gain no matter what for the entire trade.
Comment:
BLAH! Getting in with a little here even though it didn't hit that pivot. We shall see.
Comment:
Got in just in time WTF was that lol
Find the edge.

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